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Citi to pay allowances for limiting bonuses

Citi Building Sign

Citigroup has told senior staff in Europe that they would receive fixed monthly pay in addition to their salaries in an attempt to compensate for rules that limit bonuses to up to twice the level of base salaries, the Financial Times reported, citing several people.

Malaysia Airlines cuts 6,000 jobs

Axe In Wood

Malaysia Airlines is to slash its staff numbers by a third, cutting 6,000 jobs, after the airline suffered the two worst disasters in modern aviation only five months apart.